China's Ministry of Industry and Information Technology (MIIT) has stated that the industrial value-added output of large-scale Chinese enterprises in 2014 is expected to increase by 9.5 percent year on year, slightly lower than the growth rate in 2013.
China's industrial value-added output in 2011, 2012 and 2013 increased by 13.9 percent, 10 percent and 9.7 percent respectively. Mao Weiming, vice minister at the MIIT, said that in 2014 China will continue to focus on solving its overcapacity problem, on encouraging restructuring of enterprises and on elimination of outdated capacity. In addition, in 2014 the share of private sector investment in China's total fixed assets investment is expected to increase, the vice minister said.